«Here are 4 Tips for your success.»
Traders,
Step 3 of the 7-Step Guide to Trading is: Find and Analyze Potential Trades.
There are many methods used for finding trade ideas. Here are 4 tips to speed up your process:
Tip #1: Know what you are looking for
Before you set out on your scanning adventure, you have to nail down the exact setups or patterns you’re willing to trade. There are four core patterns in play for most of us at Tackle Trading: bull retracements, bull breakouts, bear retracements, and bear breakouts. The more familiar you become with each, the easier they’ll be to spot.
Tip #2: Build a watchlist
Build a watchlist that includes your favorite stocks for each sector. This will be a well you return from time and again to draw new profits from.
Tip #3: Utilize the weekly Scouting Reports (PRO Members Only)
Third, utilize the weekly Scouting Reports (PRO Members Only) and let the coaches do the heavy lifting for you. We spend hours scanning for the highest quality patterns and present them to you. If you are not yet a PRO Member and want immediate access to the Coaches’ weekly HOT stock and options picks, sign up for a FREE trial here.
Tip #4: Scan
The fourth and last tip is to try some of the scanning features available in your brokerage software or third-party websites like Finviz if you need assistance narrowing down your options.
With experience, finding trades will become quick and easy.
🛑 Upcoming Webinar › Trading for Beginners: The 7-Step Guide to Trading with Coach Matt Justice | April 25th at 8:30 PM EST on YouTube
Learning to trade properly requires a process. This Free Trading Course will help you develop that process so you can make good decisions at each step. Join Matt Justice in this webinar to get an understanding of the 7 steps taught in this course 👉 https://bit.ly/7stepstotrade
① Start at the Top of the Market
② Choose a Trading Strategy
③ Find & Analyze Potential Candidates
④ Plan the Trade
⑤ Execute the Trade Plan
⑥ Manage the Trade
⑦ Journal Each Trade
Video of the Day: 7-Step Guide to Trading – Step 3: Find and Analyze Potential Trades
Step #3: Find and Analyze Potential Trades. Once you choose a strategy that fits your investment objectives, you’ll need to find and analyze potential candidates to invest or trade with. So how do traders find opportunities? There are several methods that are tried and true.
Chart of the Day: Netflix Plunges ($NFLX)
You’ve heard us preach time and again the folly of holding short-term directional trades into earnings. If you need a reminder of the danger, I present Netflix without comment.
Today’s line up
Traders Lounge 11 AM EST
Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.
Cashflow Club 8:30 PM EST
Held every Thursday before Friday’s option contract expirations, this show helps you perfect your favorite cashflow strategies.
Halftime Report 12:30 PM EST
The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day, and fun in a way that only Matt and Tim can deliver.
Financial freedom is a journey
Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.
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Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.
All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.
